- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,192.30-0.57%
- INTEREST37.00%-1.00
- BITCOIN82,747-1.11%
- October 12, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,192.30-0.57%
- INTEREST37.00%-1.00
- BITCOIN82,747-1.11%
- October 12, 202619°
Turkic World Insurance Union proposes joint risk initiative in Gaziantep
A joint initiative addressing disaster, climate, agricultural and infrastructure risks was proposed at the 2nd General Assembly of the Turkic World Insurance Union, held in Gaziantep.
The 2nd General Assembly of the Turkic World Insurance Union was held in Gaziantep with the participation of insurance industry representatives and decision-makers from across the Turkic world.
The opening ceremony was attended by Gaziantep Metropolitan Municipality Mayor Fatma Şahin, Insurance and Private Pension Regulation and Supervision Agency President Davut Menteş, Insurance Association of Türkiye President Ahmet Yaşar, Turkic World Insurance Union President Ülviye Cabbarova and industry representatives.
Emphasis on Gaziantep’s international role
Fatma Şahin said Gaziantep was an international city in many areas, particularly agriculture and trade, and noted the importance of hosting the general assembly of an international union.
Ahmet Yaşar said the general assembly was an important opportunity to transform the close ties among the countries of the Turkic world into a partnership and to set the union’s vision for the coming period.
Yaşar said their shared history brought the countries closer together and stated that the Turkic World Insurance Union should develop on the basis of solidarity and trust. He noted that damage experience in one country could improve preparedness in another, while solutions developed in one market could be adapted to other markets, strengthening cooperation.
Türkiye’s premium volume reaches 1.2 trillion liras
Yaşar said Türkiye was joining the partnership with a strong insurance industry and announced that total premium volume reached 1.2 trillion liras in 2025. He said premium volume had risen to 1.1 trillion liras as of the end of September, up 28 percent from the same period a year earlier.
Yaşar said the target for 2030 was premium volume of $50 billion, but emphasized that the priority was not only to increase companies’ revenues, but also to ensure that more people and businesses obtained coverage.
Yaşar said the funds provided to the economy by the insurance and pension industry stood at 3.6 trillion liras, adding that the industry provided security for industrial investments, energy projects, transportation, agricultural production and families’ futures.
Three areas of work proposed
Yaşar said the second stage of the general assembly held last year in Shusha, Azerbaijan, had begun and presented three areas of work.
- Launching a joint risk and resilience study to improve understanding of the Turkic world’s disaster, climate, agricultural and infrastructure risks.
- Establishing a technical working group on insurance and reinsurance to assess data exchange, joint capacity opportunities and the coverage needs of the Middle Corridor.
- Developing joint training and professional exchange programs for young insurance professionals, agents, brokers, adjusters, actuaries and risk engineers.
The union aims to develop joint projects
Ülviye Cabbarova said the shared history, values and bonds of brotherhood uniting the Turkic world formed the foundation of cooperation in insurance. Cabbarova said the remarks of Azerbaijani President Ilham Aliyev on the Turkic world reflected the union’s understanding of solidarity.
Cabbarova said holding the general assembly in Gaziantep carried special significance and drew attention to the recovery and reconstruction efforts carried out in the city after the 2023 earthquakes. She said preparedness for risks was important for building more resilient societies.
Cabbarova said the economic and trade relations among the Turkic states should be supported by sustainable cooperation in insurance, adding that the union aimed to bring insurance markets closer together, increase the exchange of knowledge and experience, and develop joint projects.
Following the opening speeches, panels were held with the participation of industry representatives, the Turkic World Insurance Union’s website was introduced, and the closed session of the general assembly took place.
Stay Updated with The Turkiye Times
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
